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Essay / Research Paper Abstract
This 6 page paper is written in two parts, the first major part, lasing 5 pages considers a key concept of stakeholder management; the meeting of customer needs. Clearly explaining the way this can be achieved in a marketing and price development environment. The last page is a reflection on what can be learnt by writing an assignment like this. The bibliography cites 5 sources.
Page Count:
6 pages (~225 words per page)
File: TS14_TEneeds1.rtf
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Unformatted sample text from the term paper:
consumer buys a drill, it is not the drill they are buying, but the product that will provide the solution to their need; in this caser to make holes (Kotler,
2003). Likewise, when a consumer is buying a bed, their need is to buy something on which to sleep (Kotler, 2003). The actual product chosen will depend on many variables,
such as the perception of their product, but the chosen brand or item will be that which they feel will meet their needs the most effectively or efficiently. It
is also worth remembering that when the consumer makes a purchase there are likely to be conflicting needs, such as an unsatisfied need,, a budget needs and an appearance need.
These will need to be satisfied or satisfied where all cannot be met. To meet the needs of the consumer the company needs to look at the way the
needs can be satisfied with the offering and show this can be effectively communicated to the consumer, it is the perception of that need satisfaction that is important for the
initial purchase, and the product needs to fulfil the promises and perception it gives otherwise repeat purchases will not be made and the product may get a poor reputation.
The information of that products ability to satisfy different needs has to be communicated to the potential target market in a way they will understand and appreciate. The
ability to meet these needs rather than crating the desire and needs may be seen as moving toward the more stakeholder approach, especially if needs such as budget and associated
needs such as product support are included in the development of the entire offering. Therefore, the stakeholder approach will be seen in the way the needs are meet and not
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